Analysts Set IGM Financial Inc. (TSE:IGM) PT at C$43.71

Shares of IGM Financial Inc. (TSE:IGM) have received an average rating of “Moderate Buy” from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is C$43.71.

Several brokerages recently commented on IGM. National Bankshares boosted their target price on IGM Financial from C$46.00 to C$47.00 and gave the stock an “outperform” rating in a report on Monday, July 29th. Scotiabank boosted their price objective on IGM Financial from C$45.00 to C$46.00 in a research note on Wednesday, July 24th. Jefferies Financial Group raised their target price on IGM Financial from C$38.00 to C$39.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Royal Bank of Canada boosted their price target on shares of IGM Financial from C$46.00 to C$47.00 in a research report on Thursday, August 8th. Finally, BMO Capital Markets reduced their price objective on shares of IGM Financial from C$40.00 to C$39.00 in a research report on Friday, August 9th.

IGM Financial Price Performance

Shares of IGM opened at C$39.86 on Friday. IGM Financial has a 12 month low of C$30.34 and a 12 month high of C$40.00. The company has a debt-to-equity ratio of 35.99, a current ratio of 2.12 and a quick ratio of 0.31. The stock has a fifty day moving average price of C$38.42 and a 200 day moving average price of C$36.84. The company has a market cap of C$9.43 billion, a P/E ratio of 11.23, a PEG ratio of 4.09 and a beta of 1.54.

IGM Financial (TSE:IGM) last released its quarterly earnings results on Wednesday, August 7th. The financial services provider reported C$0.93 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.95 by C($0.02). IGM Financial had a net margin of 29.47% and a return on equity of 12.80%. The business had revenue of C$816.31 million for the quarter, compared to the consensus estimate of C$826.00 million. On average, research analysts forecast that IGM Financial will post 4.0291363 earnings per share for the current year.

IGM Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.563 per share. The ex-dividend date of this dividend is Friday, September 27th. This represents a $2.25 dividend on an annualized basis and a dividend yield of 5.65%. IGM Financial’s dividend payout ratio is currently 63.38%.

About IGM Financial

IGM Financial Inc operates as a wealth and asset management company in Canada. It operates through Wealth Management and Asset Management segments. The Wealth Management segment offers investments that are focused on providing financial planning and related services; and provides mutual fund management and discretionary portfolio management services.